LUGA MEAT PROCESSING PLANT GOES BANKRUPT DUE TO A DEBT OF 1.5 BILLION

Arbitration in St. Petersburg established surveillance at the Luga Meat Processing Plant (JSC). The company found itself in salary arrears to employees, debt on loans and overdue tax payments. The amount of debt is about 1.5 billion rubles.

According to Delovoy Peterburg, the surveillance procedure was conducted on April 12, 2023. Tatiana Pedchenko, representing the SRO "Northern Capital", was appointed interim manager of the case. The company filed an application for its own insolvency at the beginning of the year.

The company has been operating since the early 1990s. The company, created on the production base of the state–owned enterprise, interacted with the feed mill and the livestock complex "Dawn" (holding "Parnas-M" by Sergey Udachin). The enterprises became bankrupt, and their assets were transferred to the Rosselkhoznadzor in 2009.

Currently, the livestock complex is still working. At the same time, the Luga Meat Processing Plant, which occupies about 3 thousand square meters on an area of 4.2 hectares, has not produced products since 2014. According to official data, the organization has only two employees, production does not function, real estate is rented out.

The bank, which is the main creditor of the Luga Meat Processing Plant, won an arbitration process in 2021 to recover 1.5 billion rubles from the company. The basis was the guarantee of the company for several dozen loans that were issued to the enterprises of the holding. As a result, all collateral, including equipment, storage and production facilities, as well as land, were transferred to the bank. However, the bank was in no hurry to file a bankruptcy claim.

According to data for 2022, the company's revenue decreased by 62%. JSC ended the year with a loss of 43.4 million with revenue of 589 thousand.

The property of the meat processing plant was sold last year. The buyer of the transaction was the agricultural corporation Transagro, which planned to start production in 2023.

The shares of the Luga Meat Processing Plant in 2022 were also sold at auction. The controlling stake (99.4%) was acquired by Formula at a price of 30 rubles 25 kopecks (the initial price of this lot was 1 ruble).

Photo: Freepik